Are you considering applying for the Chase Freedom Unlimited credit card? This versatile card offers a variety of benefits, including cash back rewards and a competitive introductory APR. However, to maximize your chances of approval, you’ll need to meet certain credit score requirements.
In this article, we’ll discuss the minimum recommended credit score, offer tips on how to increase your chances of getting approved, and share strategies for improving your credit score if needed.
Credit Score Needed for the Chase Freedom Unlimited
For the Chase Freedom Unlimited credit card, the minimum recommended credit score is 690. This falls within the “good” range, which typically spans from 670 to 739. However, keep in mind that a higher score may increase your chances of approval and possibly lead to better terms, such as a higher credit limit or lower interest rate.
Increasing Your Approval Odds
Getting approved for a Chase Freedom Unlimited credit card requires some foresight and preparation. Most credit card offers target consumers with very good credit. Therefore, it’s essential to know your credit scores and understand the information in your credit reports.
Credit card issuers seek applicants with a strong credit history, steady income, and low credit utilization. If you’re using a significant portion of your existing revolving credit, it may signal to lenders that you could struggle to pay them back. Additionally, avoid applying for too much credit in a short period, as multiple credit inquiries can decrease your chances of getting approved.
Strategies for Improving Your Credit Score
If your credit score isn’t quite up to par, don’t worry – there are steps you can take to improve it. Here are some strategies:
- Review your credit reports: Request your credit reports from the three major credit bureaus – Equifax, Experian, and TransUnion – and review them for accuracy. Look for any errors or discrepancies that could be negatively impacting your credit score.
- Dispute inaccuracies: If you find any errors on your credit reports, dispute them with the respective credit bureaus. Successfully correcting inaccuracies can result in an immediate boost to your credit score.
- Pay down debt: Reducing your credit card balances can help lower your credit utilization, which accounts for 30% of your FICO credit score. Aim to keep your credit utilization below 30%.
- Pay bills on time: Consistently making timely payments is crucial for building and maintaining a good credit score. Set up reminders or automatic payments to ensure you don’t miss any due dates.
- Avoid closing old accounts: The length of your credit history accounts for 15% of your FICO score. Keep older accounts open, even if you don’t use them regularly, to maintain a longer credit history.
- Diversify your credit mix: Having a variety of credit accounts, such as credit cards, personal loans, and car loans, can demonstrate responsible credit management and improve your credit score.
Professional Credit Repair Assistance
Sometimes, improving your credit score may require professional help. Credit repair companies, like Lexington Law, can assist you in disputing and potentially removing negative items from your credit reports, such as late payments, collections, charge-offs, foreclosures, repossessions, and bankruptcies.
With over 18 years of experience, Lexington Law achieved more than 6 million removals for their clients in 2021 alone. If you’re struggling with bad credit and want to increase your chances of getting approved for new credit, consider reaching out to a reputable credit repair company for assistance. You can visit Lexington Law for a free credit consultation to see if their services are the right fit for your needs.